Telecommunications

FTC Settles Claims Against Student Loan Debt Relief Company for Over $2.3 Million

FTC

On June 11, the Federal Trade Commission (FTC) announced that it had settled claims against an individual and his loan debt relief companies in connection with its coordinated federal-state enforcement initiative to target deceptive student loan debt relief scams, called “Operation Game of Loans.”  Enforcement Watch covered a similar enforcement action earlier…

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FTC Accuses Student Loan Debt Relief Operation of Deceiving Consumers

​On February 7, 2018, the Federal Trade Commission (“FTC”) announced an enforcement action against a student loan debt relief operation, claiming it deceived consumers out of $28 million by falsely promising that their monthly payments would go towards their student loans. In the complaint, filed in the U.S. District Court for the Northern…

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FTC and Florida AG Announce Settlements in Alleged Fraudulent Debt Relief Scheme

FTC

On November 30, 2016, the Federal Trade Commission (FTC) and the Florida Attorney General (AG) announced several settlements totaling approximately $27 million in an alleged fraudulent credit card debt reduction scheme.  In a set of stipulated orders, all but one defendant agreed to monetary judgments, as well as bans on future telemarketing, selling debt relief services, and credit…

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FTC and Florida AG Sue Payment Processing Company for Credit Card Processing and Debt Relief Services

On January 8, 2016, the Federal Trade Commission​ (“FTC”) and the Attorney General for the State of Florida​ (“Florida AG”) announced charges against a payment processing business relating to an alleged nationwide debt relief telemarketing scam.  The amended complaint was filed on December 21, 2015 in the United States District Court for the Middle​ District…

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CFPB Enters Consent Agreement with Student Loan Lender Concerning Sales and Billing Practices

On July 23, 2015, the Consumer Financial Protection Bureau (“CFPB”)​ filed a complaint and proposed consent order in the United States District Court for the Eastern District of California in connection with a settlement reached with a student loan lender that offered fee-based assistance to consumers filling out the federal government’s Free Application…

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CFPB and OCC Issue Consent Orders Against National Bank for Credit Card Practices

​On July 21, 2015, the Consumer Financial Protection Bureau (“CFPB”) issued a consent order requiring a national bank and its subsidiaries to provide roughly $700 million in consumer relief due to the bank’s practices relating to its credit card services and add-on products.  The consent order states that a CFPB review of the bank’s practices…

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FTC Releases 2014 Annual Financial Acts Enforcement Report

FTC

On June 9, 2015, the Federal Trade Commission (“FTC”) announced that it provided its 2014 Annual Financial Acts Enforcement Report (the “Report”) to the Consumer Financial Protection Bureau (“CFPB”) and the Federal Reserve Board.  The 23-page Report, dated May 29, 2015, provided information about enforcement and related activities involving Regulation Z (Truth in…

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